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Seniors could be in line for a very nice boost
The Consumer Price Index for All Urban Consumers was unchanged in July 2022 (seasonally adjusted) after rising 1.3 percent in June and 1.0 percent in May. Consumer Price Index unchanged over the month, up 8.5 percent over the year, in…
SNAP and Social Security
About five million older adults who qualify for SNAP (Supplemental Nutrition Assistance Program) are missing out on this benefit, according to a recent report from the National Council on Aging (NCOA). The SNAP program, formerly known as food stamps, helps…
The basics rules of Social Security
Social Security reports that 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. Since Social Security plays a large role in many retirees lives, it is crucial that…
What is a safe withdrawal rate?
One fear most retirees have is running out of money in their retirement. So how do you prevent depleting your retirement funds? Brian O’Connell explains how to avoid running out of money in retirement by using a safe withdrawal rate.…
What will Social Security checks look like in 2023?
Earlier in the year, many experts predicted one of the largest Social Security cost-of-living adjustments increases for 2023, as much as 11.4 percent. However, those same experts are scaling down their predictions. Why? The inflation rate has slowed down since…
Social Security Expands Compassionate Allowances List
Kilolo Kijakazi, Acting Commissioner of Social Security, today announced 12 new Compassionate Allowances conditions. The Compassionate Allowances program quickly identifies claims where the applicant’s condition or disease clearly meets Social Security’s statutory standard for disability. Due to the severe nature…
A call for action on Social Security reform
In commemorating 87 years since the enactment of the Social Security program, (August 14, 1935), Ways and Means Social Security Subcommittee Chairman John B. Larson (CT-01) and U.S. Representative Pramila Jayapal (WA-07), Chair of the Congressional Progressive Caucus, called to…
How to start saving for retirement now
Some Americans feel retirement is out of reach for them; are you one of them? A recent survey found Americans are retiring later than they have in the last three decades, with many not planning on retiring until they are…
Retirees could face higher tax bills next year due to surging inflation
Many Social Security experts have predicted a considerable cost of living adjustment for 2023, the average around 10 percent. However, one prediction they have not made is the percentage of Social Security recipients who will owe taxes on Social Security.…
The ways you can lose your Social Security benefits
Social Security reports that 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. For those individuals who rely solely on Social Security, it would be devastating to lose…